University Secures $1.9 Billion Budget: A Commitment to Values and Community Voice

The Corporation, which is the top governing body of the University, has approved a budget of $1.9 million for fiscal year 2026. This new budget is set to reduce Brown’s deficit from $46 million last year to $29 million. This change comes after efforts to boost revenue, like adding new master’s programs, and reducing spending by limiting staff growth.

Provost Francis Doyle emphasized that this budget does not account for major federal financial impacts, which still remain unclear. President Christina Paxson mentioned the need for proactive measures, including a hiring freeze and salary cuts for top administrators. Both Paxson and the executive vice president for finance, Sarah Latham, will take a 10% pay cut next year.

Recently, the Corporation also approved a new statement outlining the University’s values. This statement was developed by a faculty committee and received feedback from thousands within the Brown community. It aims to provide guidelines for how the University functions and will be implemented by a committee of students, faculty, and staff next academic year.

During the May meeting, the Corporation elected two new fellows and eight trustees, who will take their seats in October. They also greenlit four new master’s programs, including management and business analytics, set to start on July 1.

In terms of faculty, 26 members were appointed to senior chairs and 22 to junior chairs. Professors Brandon Marshall and Joshua Tucker were named Royce Professors of Teaching Excellence.

Additionally, the Corporation accepted over $47 million in donations since February, which helped create six new endowed positions.

In her message to the community, Paxson expressed gratitude and optimism for the future. She noted, “The challenges we face have strengthened my belief in our mission and the commitment of the Brown community to serve with excellence.”

These decisions reflect a broader trend in higher education, where universities are becoming more strategic in managing finances. According to a recent survey by the American Council on Education, over 70% of college leaders reported financial challenges due to declining enrollment and increasing costs. Institutions like Brown are adapting by exploring new programs and prioritizing fiscal responsibility.

The road ahead may hold both challenges and opportunities, but with a resilient approach, universities are looking to navigate these uncertain times effectively.



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